The UK accounting industry has been experiencing talent shortages for some time now. However, in the last two
To get a better understanding of this dilemma
The UK employment arena is experiencing unprecedented change. In fact, the Office of National Statistics (ONS) stated that 4.2 million people across a range of sectors worked from home in 2015, and businesses both small and large are increasingly adopting the remote working strategy into their model. This number is expected to rise steadily and by 2020 it’s expected that 50% of the UK workforce will be working remotely.
This ongoing increase in remote working poses a problem when it comes to finding good talent to work onsite. In fact, the traditional working style of going to the office from 9 to 5 could soon be on its way out. Technology now enables more professionals to work from where they want and when they want. And more employers are agreeable to let them do it so they can retain the most talented people.
The UK currently has around 2 million freelancers, which is expected to rise dramatically over the next few years. Global
The growth of the gig economy is encouraged not only by freedom-seeking professionals but also by lean-thinking businesses. Outsourcing tasks and functions to freelance workers provides businesses with more flexibility to control costs, working hours, and resources.
It’s difficult to imagine that technology could lead to the talent shortages accountants are currently facing, however, this
Working remotely can be quite appealing especially considering all the benefits that come with it. No longer do you have to spend time and money on commuting every day. Parents can now spend more time with their children during the day. And with a reliable Wi-Fi
With an increase in remote
Believe it or not, millennials are having a huge impact on the economy and the workforce in general. They have new attitudes and prominent characteristics that encourage excitement and a bit of resentment from previous generations. According to a 2017 KPMG study, millennials comprise 35% of the UK workforce. And it’s expected that by 2025 millennials will make up 75% of the global workforce.
A younger dominant workforce with unique
Flexible work arrangements
Gone are the industrial revolution days where men worked a 9 to 5 schedule while women stayed at home and took care of the children. Women are now a crucial part of the workforce and arrangements needed to be made so that they could have a family and also be able to have a career. The role of men in society is also changing. No longer is it taboo for a man to stay at home and take care of the children.
These changes in working styles and expectations
Talent shortages are still affecting the UK accounting industry, however, there are now more ways to manage them. One method is by
By setting up an offshore team, practice owners can reduce the
My name is Vishal Kurani, the author of the QXAS blog and I appreciate you stopping by! I help accountants gain Accounts Outsourcing knowledge through my easy to follow blogs and guides. Download my free guide "The Accountants Guide to Making Payroll Profitable" to learn how to make payroll profitable for your accountancy practice.